Las Vegas Housing & Real Estate Market Expert Speaks

Read this full article – the best images are towards the end.

10,000+ Job Openings

The Las Vegas Real Estate Market for 2019 not only looks FANTASTIC, it is riding a wave that could easily continue thru 2021 regardless of what the rest of the USA is doing. Take into consideration that in 2008, Las Vegas was the hardest hit housing market in the United States and ranked #1 for foreclosures and unemployment. We even lost over 500,000 residents who had to move. But Las Vegas reinvented itself, and by 2013 it became a dominant force on what a city does to survive and thrive.

23+ Years of Predicting The Real Estate Market

William Margita

My name is William Margita, and I am a 3rd generation real estate agent whom for the last 20 years has been an active agent, speaker, coach and writer with accurately predicting the Las Vegas real estate market in all market conditions.

I am also just a regular person who gets up every day, goes to work & answers calls. My associate Ashley McCormick has been working with me for over 20+ years and together we can answer questions, debate or just let you yell at us if you don’t agree with our advice. If you have any questions or concerns, just give us a call 702-882-8240.

Las Vegas May Be the “Last Best Place” to Buy a Home

Since the last recession, Las Vegas is the only major city that has a huge equity margin. This means that the all time high price has not been reached, and there is historical potential for gain. Right now if you live in Denver or Dallas – it may be time to sell and rent.

Housing Price Change Las Vegas

This chart is an interesting piece when considering if it’s time to buy or sell.

No market is predictable, and a lot of Las Vegas sellers have been selling as the market is the most stable in 10 years. At the same time, it is a good market to buy or make a lifestyle change in Las Vegas as interest rates are historically low.

Read this full article to see everything to 2021

30% of Las Vegas home buyers come from California.Las Vegas has no personal income tax, and property taxes can be up to 70% less. Las Vegas also has lots of open jobs due to 5 major expansions. Why not enjoy Las Vegas and get positioned to take advantage of the markets?

Check this site now at Numbeo.com. Just enter your current city and see if you can move to Las Vegas today and save money or get a better value.

Year over year, the average property tax on a $350,000 Home in Las Vegas is between $1,900 to 2,200. First, you have to even find a home in a major city that still has single family homes for $350K , but most our out-of-state buyers say they pay between $5,000 to $15,000 a year just in property taxes.

Tax Rates

What Can I Buy In Las Vegas?

How much CASH do you have towards a new home or do you need to get financing?

Whether you’re looking for single family houses in southern Nevada, north Las Vegas, or the overal Las Vegas area, you will be surprised by the prices of homes on the market. While not everyone has $1,000,000 Million dollars – at least in Las Vegas you can get a small mansion and live like an A-list celebrity.

10,000+ Job Openings in Las Vegas

Development and tourism mean more jobs, and Las Vegas has opportunities that can not be matched in most towns anywhere in the United States. But there is a little downside in that rent prices are increasing and the fastest in the country due to people relocating for work. If you are thinking of moving to Las Vegas, sooner is better than later.

According to the Department of Employment, Training and Rehabilitation’s (DETR) March 2018 economic report, Nevada added 3,500 jobs bringing employment to a record high of 1,373,700. Headline unemployment in March remained constant at 4.9 percent.

DETR’s report also noted that in the fourth quarter of 2017, personal income in Nevada reached $136 billion, up 6.4 percent from a year ago. (Some degree of increase in this metric has been ongoing in 30 of the past 31 quarters.) Nevada’s average personal income growth has exceeded that of the U.S. average for 14 of the past 16 quarters, with income gains in the state averaging 5.1 percent, compared to 3.5 percent in the U.S.

Not only it is more financially smart to buy a home in Las Vegas today than rent, the timing is in line with the lowest interest rates in history. I remember when 7-9% home loans were considered amazing. Today the rates are half of that, and buyers can take advantage of a very unique time in home financing history.

Annual interest ratesCurrent forecast

As of mid year 2018 the average 30-year fixed mortgage rate is 4.58%. 15-year fixed mortgage rates increased to 4.02%. Las Vegas home prices are predicted to go up from 6-7% over the next year.

*this article does not intent to make any investing advice, guarantees or predictions in terms of sec violations. It is an overview of the information available today on the current real estate market in Las Vegas.

5 Hugh Projects Driving Las Vegas Jobs Market

The 1st factor is construction development as Las Vegas has an estimated over $10 Billion dollars in construction over the next 3-year. The 2nd factor is the 10,000+ jobs opening in which Las Vegas needs people to relocate and fill those positions.

NFL Raiders Stadium

Las Vegas Convention Center

Resorts World

Wynn Park

Marriott 4000+ rooms

#1 Las Vegas Raiders Stadium

Las Vegas Raiders Stadium

Construction costs will amount to more than $1.3 billion for the upcoming Las Vegas stadium that will be home to what are currently the Oakland Raiders, according to official figures released by the Las Vegas Stadium Authority this week. The stadium will be equipped with 65,000 seats.

Las Vegas Convention Center

#2 Las Vegas Convention Center Expansion

The contract is the next step toward building a 600,000-square-foot state-of-the-art exhibition hall on land now used as a parking lot northwest of the current convention center. It’s part of the LVCVA’s $1.4 billion convention center expansion and renovation program.

The new exhibition hall would be open by January 2021, and renovations to the existing halls would be completed by 2023.

Resorts World Casino

#3 Resorts World Casino

Resorts World Las Vegas is a casino and resort currently under construction on the Las Vegas Strip in Winchester, Nevada, United States, planned to open in 2020. It is owned and operated by Genting Group. The estimated cost is about US$ 7.2 billion.

#4 Steve Wynn’s Paradise Park and New Hotel Casino

Wynn West will connect to the Beach Club outside Encore and Wynn Las Vegas via an “air conditioned umbilical hallway” that will run over the boulevard, Wynn said. Wynn said he has already built the necessary infrastructure outside the Beach Club because he knew he would eventually buy the plot that stood barren a decade.

Wynn resorts plansWynn resort

#5 Marriott to Complete 4000+ Mega Hotel Resort

Marriott International, the largest hotel company in the world, plans to turn it into a 4,000-room resort and casino called The Drew Las Vegas.

“The Drew Las Vegas will become a landmark property for Marriott International,” said Tony Capuano, executive vice president and global chief development officer of Marriott International. “The resort will give our more than 100 million loyalty members the chance to enjoy our brand of hospitality in one of the most exciting and popular cities in the world, whether the visit is for a convention or a leisure trip.”

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Las Vegas Pool

If you are serious about buying or selling single family houses in Las Vegas – contact our team today for info such as median sale price, list price, and listings that have been up for 12 months or less.

Have a question or concern on the Las Vegas Real Estate Market?

Call 702-882-8240

About William Margita

Recognized real estate industry leader, speaker and coach with 20+ years experience with companies to include Century21, Prudential, ReMax & Urban Nest Realty. Has been ranked in the top 1% nationally among agents and featured in numerous real estate industry media.